obx sandbar living monthly market update
Welcome, Springtime!
After a long winter, the spring season on the Outer Banks is finally in bloom! We all love the spring season here, as the shops and restaurants, like local wildlife, begin waking up after a long winter’s nap.
We at OBX Sandbar Living have had a busy start to the season, with fresh new listings going live and buyers eager to see what the market has in store. Thinking of dipping your toes into OBX real estate this season? We’re ready to start the conversation — feel free to call, text or email me anytime!
-Danielle
Outer Banks Real Estate Market-at-a-Glance for YTD 2025
Sold and Under Contract Analysis
SINGLE FAMILY RESIDENTIAL:
YTD residential sales units are up 11.6% versus YTD 2024
YTD residential sales dollars are up 5.4% vs. YTD 2024
YTD median sale price is $699,950, up 4% vs. YTD 2024
February 2025 residential sales units were up 7.25% versus February 2024
Sales units February ‘25 over January ‘25 were down 7.5%
New listing inventory for February was down 3.77% versus January
As a comparison, new listings for February ‘25 were flat (down <1%) versus February ‘24
February residential sales volume was down 2.7% vs. January
Active listings are up 5.77% versus January.
Sales units are up almost 12% year-over-year, with a 7.25% increase February over February. However, sales units were down versus January. New listings are relatively flat month-over-month and year-over-year. While the market is still bustling in terms of sales units, we’re seeing VERY SLIGHT near-term softening (about 1/10th of a percent month-over-month) in terms of pricing, with pronounced lengthening of days on market.
For our sellers (or our potential sellers), it’s still a great time to get into the market (spring remains our busiest season for buyer demand so that they can maximize enjoyment and/or income during the peak rental season) — with adjustments to expectations as it relates to days on market. With active listings up almost 6% month over month, buyers are able to be more selective and are taking their time with their decision-making.
Buyers are more sensitive to income potential and expenses than recent years. If your property is in a rental program, we can bounce some ideas off each other for maximizing that income — give me a call or shoot me an email or text. Likewise, there might be some opportunities for you to cut expenses, whether it’s dialing in your insurance coverage or bundling utilities — again, I’m happy to chat with you about this!
Now, let's look at month-over-month:
Median sale price for all Residential property sold in February was $699,450--flat (down .08%) versus January ‘25.
February 2025's median sale price was up 7.6% versus February 2024.
February ‘25 vs. February ‘24, residential properties sold 28% slower, but at a 4% higher median sold price, The short-term data tells a slightly different story regarding the median sold price; however, with February’s being down .08% since January. As stated before, days on market continues to lengthen both month-over-month and year-over-year.
RESIDENTIAL LOTS AND LAND:
YTD residential land sales units are down 15% versus YTD 2024.
YTD residential land sales dollars are down 15% versus YTD 2024.
YTD residential land median sold price is $205,000, up 14% versus YTD 2024.
February residential land sales units were down 40% compared to February ‘24.
February residential land sales units were down 63% versus January ‘25.
February residential land sales dollars were up 13% versus February ‘24.
February residential land sales dollars were down 65% versus January ‘25.
inventory analysis
New listing inventory for February 2025 was flat versus February 2024 and down 3.8% versus January’s new listings.
Drilling down, 153 new residential listings hit the market in February 2025, with 29% of those properties already sold or under contract.
Average days on market for these is 9; median days on market is 6 (the new, good inventory is still moving fast!).
Of the properties that have closed, 26% were cash transactions and 12% disclosed multiple offers (disclosure of multiple offers is not required by our MLS).
See the chart below for the full breakdown by area…
Inventory Analysis by Area YTD 2025
If you’d like to get more hyper-local with your neighborhood or area, please feel free to contact me!
days on market and distressed data analysis
Average days on market for SOLD residential properties in February was 71, up 6% from January’s average of 67 days.
As demonstrated in our pricing analysis chart below, the most significant lengthening of days on market are in the lowest and highest price categories (below $350K and above $1M). Sellers in those categories should be especially proactive in communicating with us about pricing and marketing strategies.
The average home sold 22.4% slower in February 2025 (71 days) versus February 2024 (58 days).
The Median days on market in February was 32, meaning that half of the sold units did so in 32 days or less.
Year over year, the average DOM for properties sold in 2024 is 69 (up from 54 days YTD 2024), meaning that the average property sold 28% slower than one year ago.
Average days on market for all current ACTIVE residential listings is 108 days (down 2.7% versus 111 days in January).
Month-over-month, the average days on market for Under Contract properties is 84 days (up 21% from 72 days in January 2025).
29% of properties listed in February have already gone under contract or sold with an average days on market of 9.
It still rings true that homes that are priced consistent with their condition and/or are located in high demand areas per the chart above are still moving quickly and with multiple offers.
There was 1 distressed residential listing sold in February 2025 (up from 0 in January 2025 and 0 in February 2024).
There were 3 distressed active residential listings as of February 28, 2025; up from 1 in January 2025 and up from 2 in February 2024.
Year-Over-Year Market Comparison
pricing analysis
Residential Median Sale Price for YTD 2025 was $699,950, which was up 4% versus the year prior.
You’ll find a breakdown by price point below:
Year-over-Year Sales Comparison by Price Point
area data at-a-glance
*Note: Of all Outer Banks towns, Duck has the highest proportion of Co-Ownerships vs. other residential property types. The median price for Duck is skewed due to a disproportionate number of co-ownerships sold; the median price for sold residential properties YTD 2025 excluding Co-Ownerships is $1,102,500.
*All market data presented is courtesy of the Outer Banks Association of REALTORS MLS Single Family Residential, Jan 1 - Feb 28, 2024 and 2025.